Ref : EE/SET/005/2009
December 8, 2009
Subject: Clarification the operating results for quarter 3/2009
To The President
The Stock Exchange of Thailand
Eternal Energy Public Company Limited, formerly Sea Horse Public Company
Limited and its
subsidiaries financial statements for the nine month ended September 30, 2009
compare to the same
period last year showed net loss of 255.094 MB or increased by 235.516 MB
which were more than
20% . The reasons are mainly from our sale of assets related to the food
business in July 31, 2009.
Therefore, the operating results in food business were realized only seven
months as follows:
1. Revenue
Total revenues of 563.556 MB decreased by 175.370 MB or 23.74 % from the
same period last
year due to the stronger Baht:USD, resulted to the decrease of sale revenue.
2. Expense
-Cost of sales and services of 554.721 MB decreased by 53.264 MB or 8.76 %
from the same
period last year but there were loss in gross operating profit of 12.251
MB because of the
downsizing in seafood business and at the same time there were reproduce
the inventories for
export orders.
-Operating costs of 248.043 MB increased by 123.428 MB or 99.05 %,
resulted from the
allowance for accounts receivable loss in seafood business of 104.772 MB
and the allowance for
land devaluation in our subsidiary of 46.886 MB.
Please be informed accordingly.
Sincerely yours,
(Mr.Vorajate Indamra)
Director